[NEWS] KLab subsidiary BLOCKSMITH secures funding from SBI Group and others

On the 16th, BLOCKSMITH＆Co. announced that it has raised funds by issuing SAFE-type stock acquisition rights from SBI Group, Headline Asia, J-CAM, and others in an angel round (1st close, ongoing).

Background of the fundraising

Until now, BLOCKSMITH's parent company KLab and founder and president Tetsuya Sanada owned 100% of the capital, but this latest round of funding is the first time that the company has accepted capital from outside.

The company is aiming to go public as a Web3.0-related company, and explains that this round of funding is part of strengthening its capital structure and finances in preparation for the listing. The funds raised will be used for product development and research and development.

BLOCKSMITH has accumulated a track record of blockchain-related development and operation, such as providing "Captain Tsubasa-Rivals" to Thirdverse (now MintTown) in January of this year.

In addition to developing blockchain games, the company also established AI Labo in April. In September, the company announced a business partnership regarding "face authentication Web3 wallet," and is also focusing on developing related technologies.

Participating companies

▶ Excerpt from the announcement

At the time of the announcement, Yoshitaka Kitao, Chairman and CEO of SBI Holdings, said, "By releasing games and applications that anyone can enjoy, such as QAQA, I hope that BLOCKSMITH&Co. will attract many users, including those who are not familiar with blockchain, contribute to the spread of Web 3.0, and take flight as a company that creates the next generation of entertainment."

Vertical short video quiz app "QAQA (kaka)"

BLOCKSMITH released the alpha version of its quiz app "QAQA (kaka)" in June. It has become a hot topic, as it uses the game-specific blockchain Oasys.

QAQA is a user-submitted vertical short video quiz app, where users can ask questions, answer consecutive questions correctly as a contestant, earn in-game currency "Chips," and exchange them for cryptocurrency "BLQS."

In the future, they plan to gradually add an event function to liven up the quiz, NFTs, crypto assets BLQS, a facial recognition Web3 wallet, and more.

Reference:Announcement
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